California Financial Code

§ 14053

FIN § 14053 Effective Jan 1, 2025Div. 5 · Ch. 1 · Art. 2

Statute text

(a)For purposes of this section, the following definitions apply:

(1)“Fee” means a nonsufficient funds fee or an overdraft fee.

(2)“Nonsufficient funds fee” means a fee resulting from the initiation of a transaction that exceeds the member’s available account balance if the member’s credit union declines to make the payment.

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Legislative history

Added by Stats. 2024, Ch. 521, Sec. 1. (SB 1075) Effective January 1, 2025.